Montana § 35-10-618 Effect Of Partner's Dissociation

Montana Statutes

§ 35-10-618 — Effect Of Partner's Dissociation

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 10 PARTNERSHIPS IN GENERAL·Part 6 Dissolution and Winding Up

35-10-618 . Effect of partner's dissociation.

(1)If a partner's dissociation results in a dissolution and winding up of the partnership business, 35-10-602 , 35-10-609 , and 35-10-624 through 35-10-629 apply; otherwise 35-10-619 through 35-10-623 apply.

(2)Upon a partner's dissociation:

(a)the partner's right to participate in the management and conduct of the partnership business terminates, except as provided in 35-10-609 ;

(b)the partner's duty of loyalty under 35-10-405 (2)(c) terminates; and

(c)the partner's duty of loyalty under 35-10-405 (2)(a) and (2)(b) and duty of care under 35-10-405 (4) continue only with regard to matters arising or events occurring before the dissociation.

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35-10-618 . Effect of partner's dissociation. (1) If a partner's dissociation results in a dissolution and winding up of the partnership business, 35-10-602 , 35-10-609 , and 35-10-624 through 35-10-629 apply; otherwise 35-10-619 through 35-10-623 apply.
(2) Upon a partner's dissociation:
(a) the partner's right to participate in the management and conduct of the partnership business terminates, except as provided in 35-10-609 ;
(b) the partner's duty of loyalty under 35-10-405 (2)(c) terminates; and
(c) the partner's duty of loyalty under 35-10-405 (2)(a) and (2)(b) and duty of care under 35-10-405 (4) continue only with regard to matters arising or events occurring before the dissociation.

Montana § 35-10-618 (Effect Of Partner's Dissociation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.